Ifsc regulations. Power to make regulations.

Ifsc regulations. Power to make regulations.

Ifsc regulations. Explore the International Financial Services Centre (IFSC) at GIFT City – a world-class hub for global financial operations in India. The article lists the registration requirements for setting up such companies and other important steps and process involved. — (1) The Authority may, by notification, make regulations consistent with this Act and the rules made thereunder for carrying out the provisions of this Act. Subject : IFSC(Banking) Regulation,2020 – Directions for implementation As you are aware, consequent to the notification by the Government of India (Gazette Id CG-DL-E-29092020-222097 dated September 29, 2020 of Part II Section 3 Sub-section (ii) of the Extra Ordinary Gazette) the provisions of section 13 and section 33 of the International Financial Services Centres Authority Act, 2019 (the . Setting up of IFSC Banking Units (IBUs) Please refer to the Reserve Bank of India Notification No. CHAPTER I PRELIMINARY Short title and commencement . These 4 days ago · The International Financial Services Centres Authority (IFSCA) has been established to regulate and develop financial services in the International Financial Services Centres (IFSCs) located in India. It has been noted that only companies incorporated in the IFSC are eligible. IFSCA/2023-24/GN/REG041 dated 6thJuly, 2023. The International Financial Services Centres Authority (IFSCA) is the regulatory body for the Indian special economic zones such as the GIFT International Financial Services Centre for International Financial Services and commodity markets under the ownership of the Government of India. It highlights the following key points: IFSCA is the single authority overseeing financial institutions, financial services, and capital market activities within Gift City. Discover DIFC's legal framework, including labour law, company law, and regulations in Dubai. Power to make regulations. In a stark contrast to its initial approach of benchmarking the IFSCA funds regime against the fund ecosystem created The FME Regulations mark a critical milestone in development of IFSC as global financial hub, and a globally aligned effort in the regulation of the funds industry in IFSC. Apr 7, 2025 · The IFSCA introduced the IFSCA Fund Management Regulations, 2025 to enhance fund management in GIFT-IFSC, focusing on investor-friendly measures, reduced barriers, and improved protection, boosting its global financial hub status. Every Finance Company shall formulate a The International Federation of Sport Climbing (IFSC) was created on 27 January 2007 as a continuation of the International Council for Competition Climbing, which was created in 1997. Stay informed, stay protected! 28. The Sports & Technical Commissions shall be responsible to make recommendations for the establishment, implementation, control, and review of all sporting and technical aspects related to Climbing including but not limited to competition sport equipment, judging, routesetting RBI Regulations in GIFT City: Banking in Foreign Currency RBI is India’s central bank. Regulations, 2020 Banking Units (BUs) may please refer to the following circulars and directions, dated December 4, 2020, issued after notification of the IFSC (Banking) Regulations, 2020: Sep 12, 2022 · The FME Regulations mark a critical milestone in development of IFSC as global financial hub, and a globally aligned effort in the regulation of the funds industry in IFSC. It may be worthwhile for SEBI to start examining whether a similar regulatory framework should be adopted for funds in India, alongside the variable capital company framework. These regulations may be called the International Financial Services Centres Authority (Finance Company) Regulations, 2021. Aug 20, 2024 · The International Financial Services Centres Authority (“ IFSC Authority ”) released a consultation paper on August 5, 2024 (“ Consultation Paper ”), proposing a host of amendments to the IFSCA (Fund Management) Regulations, 2022 (“ FM Regulations ”). At present, the GIFT IFSC is the maiden international financial services centre in India. Ideal for businesses seeking legal clarity and compliance. IFSCA takes care of banking operations, but RBI helps design the rules. Comprehensive FAQs to guide prospective entities through the process. This IFSC Framework, however, is a part of the overall SEZ Framework Aug 9, 2021 · The SEBI (IFSC) Guidelines, 2015 read with the Operating Guidelines, and the Foreign Exchange Management (IFSC) Regulations, 2015 are the primary sources of regulation for AIFs in an IFSC. Subscribe May 1, 2025 · Complementary Legal Regimes In addition to the SEZ and IFSCA Act, GIFT City and the IFSC environment operate in tandem with several other legal instruments, such as: IFSCA (Banking) Regulations, 2020 – providing guidelines for offshore banking operations. Subscribe The handbook provides an overview of the rationale for setting up an IFSC in India, exchange control regulations, tax regime, exemptions, and IFSCA’s role in regulating financial institutions. For operating as an AIF, a fund is required to procure registration from the IFSC Authority (as set up under the IFSC Authority Act, 2019). 5. Explore the legal framework, tax incentives, and business setup process in India’s GIFT City IFSC for 2025. [3] It was established in 2020, under the International Financial Services Centres Authority Act, 2019. Aug 1, 2025 · Alert: Beware of financial scams! Always deal with IFSCA regulated entities. The Regulations cover a wide range of topics, including: (a Short title and commencement - These regulations may be called the International Financial Services Centres Authority (Investment by International Financial Service Centre Insurance Office) Regulations, 2022. Since the introduction of the IFSCA (Fund Management) Regulations in 2022, and their subsequent Jun 11, 2024 · These Regulations aim to put the regulatory framework relating to development, registration and operations of Book-keeping, Accounting, Taxation and Financial Crime Compliance Services from International Financial Services Centres (‘IFSC’). The Rules Commission and the other Sport & Technical Commissions are established in the IFSC Statutes, Article 14. 'IRDA' shall mean the Insurance Regulatory and Development Authority established under the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999). Stay informed, stay protected! Further, it is noted that SEBI AIF Regulations prescribe minimum scheme size at INR 20 Crore (~USD 2. 'International Financial Services Centre' or 'IFSC' shall have the same meaning given in Section 2 (q) of the Special Economic Zones Act, 2005 (28 of 2005). In order to have direct oversight over the fund RBI Regulations in GIFT City: Banking in Foreign Currency RBI is India’s central bank. Module 12 of the Conduct of Business Directions of the IFSCA Banking Handbook lays down the mechanism for setting up a RO in IFSC iv. 2 days ago · 2nd & 3rd Floor, PRAGYA Tower, Block 15, Zone 1, Road 1C, GIFT SEZ, GIFT City, Gandhinagar, Gujarat - 382 355 The launch of the IFSC at GIFT City is the first step towards bringing financial services transactions relatable to India, back to Indian shores IFSC unit is treated as a non-resident under extant Foreign Exchange Management regulations CHAPTER – I Objective: These Guidelines aim to put in place a framework to address operational issues for the International Financial Services Centres Insurance Intermediary Office (IIIO) in the International Financial Services Centre (IFSC). The salient features are as follows: An AIF in IFSC is permitted to make investments in securities listed on the IFSC, issued by companies incorporated in IFSC/India/foreign jurisdiction, units of other AIFs and other permissible investments as per SEBI (Alternative Investment Funds) Regulations, 2012. This comprehensive guide, “431 FAQs on International Financial Services Center (IFSC) Authority in India,” is designed to demystify the multifaceted aspects of IFSC operations and governance. Feb 11, 2025 · To facilitate establishment of IFSC, RBI under Foreign Exchange Management Act, 1999 (“ FEMA ”) issued FEM (International Financial Services Centre) Regulations, 2015 (“ IFSC Regulations ”) to regulate Financial Institutions (“ FI ”), as defined therein, rendering financial services or undertaking financial transactions, as defined May 14, 2025 · These regulations clarify that an entity that intends to engage in multiple activities under different IFSC regulations shall maintain separate net-worth earmarked for each activity while rationalizing the separate net-worth requirements for all activities under the New CMI Regulations. 4 days ago · Home Legal Framework NotificationSelect Issuing Authority Dec 6, 2024 · IFSC Authority’s Informal Guidance Scheme 2024 aims to simplify regulations for financial services, providing clarity and easing compliance for businesses in India. We have analysed the key provisions of the PS Regulations below Alert: Beware of financial scams! Always deal with IFSCA regulated entities. The International Financial Services Centres Authority introduced the International Financial Services Centres Authority (Finance Company) Regulations, 2021 (Regulations) for setting up a Finance Company under the International Financial Services Centres in India. Aug 1, 2025 · The IFSCA has amended its Fund Management Regulations, introducing provisions for third-party fund management services within International Financial Services Centres (IFSCs). Dec 6, 2024 · IFSC Authority’s Informal Guidance Scheme 2024 aims to simplify regulations for financial services, providing clarity and easing compliance for businesses in India. FEMA. Snapshot of fund regime in IFSC The Regulations provide for a comprehensive framework governing a host of fund management activities in IFSC, ranging from various types of private investment funds, special situations funds, mutual funds, hedge funds, portfolio management services, ETFs, family offices, REITS and InvITs. 1) The IFSCA (Capital Market Intermediaries) Regulations, 2025 The new IFSCA (Capital Market Intermediaries) Regulations, 2025 (“New CMI Regulations)” will replace the extant IFSCA (Capital Market Intermediaries), 2021. Subject to the provisions of Section 1(3) of the Act, and save as otherwise provided in these Regulations or any other Regulations or directed by the Reserve Bank of India from time to time, nothing contained in any other regulations shall apply to a financial institution or branch of a financial institution set up in an IFSC. Key Rules: Banks can open IFSC Banking Units (IBUs) Guided by the above announcement and in fulfilment of its continuous endeavour to develop the GIFT IFSC as a hub for international financial activities, IFSCA undertook an extensively consultative approach to review the IFSCA (Fund Management) Regulations, 2022, which, inter alia, includes consultation with the Fund Management Advisory Committee (FMAC) of IFSCA, discussions with senior Short title and commencement (1) These regulations shall be called the International Financial Services Centres Authority (Fund Management) Regulations, 2022. Mar 5, 2025 · BACKGROUND The International Financial Services Centre Authority ('IFSCA'), in its 42 nd meeting held on 19 December 2024, had approved a proposal to review the existing IFSCA (Fund Management) Regulations, 2022 which were notified in April 2022 ('FME Regulations 2022'). The International Financial Services Centres Authority (IFSCA) has been established to regulate and develop financial services in the International Financial Services Centres (IFSCs) located in India. (III) Exchange Traded Funds (ETFs): Considering that ETFs offer a means to gain exposure to specific markets or asset classes at a low cost, registered fund managers in IFSC shall be able to launch not just Index based ETFs 20 hours ago · The International Financial Services Centres Authority (IFSCA) has reported significant growth in the fund management sector at GIFT-IFSC, driven by its regulatory reforms and a clear tax framework. Apr 21, 2022 · The requirements on scheme size, number of investors, permissible investments, etc. 1 day ago · A guide to the regulatory framework for fund management in GIFT City, covering IFSCA regulations, SEZ rules, and compliance requirements for FMEs and nominees. On 19 April 2022, the International Financial Services Centre Authority (IFSCA) published the International Financial Services Centre Authority (Fund Management) Regulations, 2022 (FM Regulations), overhauling the fund regime in International Financial Services Centre (IFSC). The former entity (Finance Company) is incorporated separately, while the latter (Finance Unit) is established as a branch under the regulations. Apr 11, 2025 · IFSCA notifies the Capital Market Intermediaries Regulations 2025 for entities operating in IFSCs, covering registration, obligations, and conduct. The key proposals introduced in the meeting, were based on the experience gained and feedback received from market International Financial Services Centres Authority (Global In-House Centres) Regulations, 2020 On October 16, 2020, Government of India, on the recommendation of IFSCA, had notified Global In-House Centres (GIC) as financial service to provide services relating to financial products and financial services. Section 3 (9) of the Regulations permit a Banking company incorporated in India or outside India to set up Representative Offices (ROs) in IFSC. 7. Applicability: These Guidelines shall be applicable to the Applicant of the IIIO and / or the IIIOs registered under the IFSCA (Insurance Intermediary 18-Apr-2024 Introduction On 29 January 2024, the International Financial Services Centres Authority (IFSCA) notified the International Financial Services Centres Authority (Payment Services) Regulations, 2024 (PS Regulations) with the intention of governing and regulating payment services in International Financial Services Centres (IFSC). Jun 12, 2024 · Get clear insights on registering a finance company or unit under the IFSCA (Finance Company) Regulations, 2021. These regulations and the requisite permissions, approvals and licenses under then have become the key framework applicable to establishing and operating the financial entities in GIFT City. BATF Service Provider means any entity registered under these Regulations to undertake the following: Dec 4, 2018 · Key Highlights • Registration process: a fund set up in IFSC in the form of a trust or a company or a limited liability partnership or a body corporate, can seek registration under the provisions of SEBI (Alternative Investment Funds) Regulations, 2012 (AIF Regulations) under the categories mentioned in the AIF Regulations. 2[(c) “IFSC Banking Unit” or “Banking Unit” means a financial institution under clause (c) of sub-section (1) of Section 3 of the Act that is licensed by the Authority to undertake permissible activities under these regulations;] (d) “Foreign Bank” means a banking company incorporated or established outside India; (e) 3[* * *] 2. This multifaceted approach positions the GIFT IFSC as India's gateway to global financial markets, facilitating outbound and inbound investments, and hosting a myriad of other financial activities. The IFSC Authority has clarified that to bolster GIFT City’s evolution into a more accessible global fund management jurisdiction (ae) “safeguarding institution” means an IFSC Banking Unit (‘IBU’) or an IFSC Banking Company (‘IBC’), as defined in clause (ec) and (eb), respectively, of sub-regulation (1) of regulation 2 of the International Financial Services Centres (Banking) Regulations, 2020. 2[(c) “IFSC Banking Unit” or “Banking Unit” means a financial institution under clause (c) of sub-section (1) of Section 3 of the Act that is licensed by the Authority to undertake permissible activities under these regulations;] (d) “Foreign Bank” means a banking company incorporated or established outside India; (e) 3[* * *] Home Notifications FEMA FEMA New NotificationsForeign Exchange Management Act Notification Corrigendum 4 days ago · As per Foreign Exchange Management (IFSC) Regulations, 2015, any financial institution or branch of a financial institution set up in the IFSC and permitted/recognised as such by the Government of India or a Regulatory Authority shall be treated as a person resident outside India. 28. Through its strategic location and forward-looking policies, the GIFT IFSC reinforces India's presence and influence on the international financial stage, offering a conduit for businesses and (o) ‘Lloyd’s IFSC’ means the branch office of the Lloyd’s granted certificate of registration by the Authority under these Regulations to transact insurance or re-insurance business; Global/regional corporate treasury activities in IFSC-GIFT City The IFSCA (Finance Company) Regulations, 2021 (‘FC Regulations’) issued in March 2021 provide a framework for a finance company (FC) / finance units (FUs) in the IFSC. 2 days ago · IFSCA (Fund Management) Regulations, 2022 Brochure for Fund Management in GIFT-IFSC Should you have any queries on issues related to fund management, market participants and other stakeholders should not hesitate to write to Sh. The New CMI Regulations provide the revised regulatory framework for registration, regulation and supervision of capital market intermediaries set up in the IFSC, based on Mar 27, 2015 · SEBI provides guidelines for International Financial Services Centres to protect investors' interests and regulate securities markets effectively. Sep 19, 2024 · The IFSCA in its meeting held on June 27, 2024, approved the New Listing Regulations and this framework became operational on August 30, 2024, for a listing of securities on the two Stock Exchanges in GIFT City i. Feb 10, 2025 · International Financial Services Centres Authority (Fund Management) Regulations, 2025, outline key provisions for fund management entities (FMEs) operating in International Financial Services Centres (IFSCs). However, entities already registered with SEBI as KRAs may also open a fully owned subsidiary or branch in the IFSC to seek registration under these regulations. This notification, officially titled the Income-tax (Second Amendment) Rules, 2025, introduces critical amendments to the Income-tax Rules, 1962. India International Exchange and NSE IFSC Limited, providing a fillip to the securities market in the IFSC. May 13, 2025 · These regulations clarify that an entity that intends to engage in multiple activities under different IFSC regulations shall maintain separate net-worth earmarked for each activity while rationalizing the separate net-worth requirements for all activities under the New CMI Regulations. Feb 26, 2025 · The image depicts a simplified view of the regulatory structure within Gift City. Dealings in securities shall be permitted on the Exchange as provided in these Bye Laws and Regulations and save as so provided, no other dealings are permitted. Apr 5, 2024 · iii. FCs/FUs play a crucial role in providing non-banking financial intermediation services in the IFSC and are allowed to carry out permissible activities Mar 27, 2025 · IFSCA's 23rd meeting approved new regulations for capital market intermediaries, KYC agencies, and fund management, promoting transparency and ease of doing business. Substituted vide Notification No. have been detailed in the regulations. Find the latest regulations, circulars, public comments and consultations on IFSCA's website. May 26, 2025 · In this context, the International Financial Services Centres Authority introduced the KYC Registration Agency (KRA) Regulations, 2025 to govern the functioning of KRAs within the IFSC. 10/2025 on January 27, 2025. The 3 days ago · The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India. 339/2015-RB dated March 02, 2015 (copy enclosed) under FEMA 1999 on Foreign Exchange Management (International Financial Services Centre) Regulations, 2015 setting out RBI regulations relating to financial institutions set up in International Financial Services Centres (IFSC). Short title and commencement These regulations may be called the International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021. Before substitution, it stood as under: “(c) “Banking Unit” or “IFSC Banking Unit” means a financial institution under clause (c) of sub-section (1) of Section 3 of the Act that is licensed by the Authority to undertake permissible activities under these regulations;” Aug 21, 2023 · IFSCA Banking Regulations, 2020 (“Regulations”) is the primary legislation governing the banking and investment activities in IFSC. IV. It controls interest rates, money supply, and foreign exchange. The Draft Regulations aim to create a dedicated regulatory framework for TechFin entities and Ancillary Services Providers operating within the International Financial Services Centre (“ IFSC ”) at GIFT City, Gandhinagar. Key Rules: Banks can open IFSC Banking Units (IBUs) Preliminary What is a Fund Management Entity? Fund Management Entity (FME) is an entity registered with the Authority under one of the categories specified in regulation 3(4) of the IFSCA (Fund Management) Regulations, 2022 (“Regulations”), for undertaking the business of fund management in an International Financial Services Centre (IFSC). 5 Mn) and prior to notification of IFSCA (Fund Management) Regulations, 2022, the above was applicable for IFSC AIFs as the minimum scheme size. and the Insurance Regulatory and Development Authority of India (IRDAI) released and updated multiple regulations pertaining to IFSCs. Short title and commencement (1) These regulations shall be called the International Financial Services Centres Authority (Fund Management) Regulations, 2022. 3 days ago · IFSCA is a statutory authority that regulates and develops the International Financial Services Centres (IFSCs) in India. These regulations aim to ensure consistency in KYC practices, promote transparency and accountability, and facilitate real-time data availability. Apr 18, 2024 · 18-Apr-2024 Introduction On 29 January 2024, the International Financial Services Centres Authority (IFSCA) notified the International Financial Services Centres Authority (Payment Services) Regulations, 2024 (PS Regulations) with the intention of governing and regulating payment services in International Financial Services Centres (IFSC). e. In GIFT City, banking is a little different. Jan 29, 2025 · In a significant move to streamline tax administration and align with global financial regulations, the Central Board of Direct Taxes (CBDT) issued Notification No. 2 days ago · Home Legal Framework RegulationSelect Issuing Authority Mar 2, 2015 · Notifications - Reserve Bank of IndiaHome NotificationsNotifications Sep 13, 2024 · The Regulations provide for various avenues to access capital markets through IFSC Stock Exchanges (including those which are prevalent in international markets). May 7, 2021 · The said regulations bifurcates the entities allowed to conduct business in IFSC as; i) Finance Company, ii) Finance Unit. Aug 13, 2024 · New IFSC regulations effective June 6, 2024, govern bookkeeping, accounting, taxation, and financial crime compliance services, impacting registration and operations. An international non-governmental and non-profit organisation, the IFSC's main objectives are the direction, regulation, promotion, development, and furtherance of climbing competitions around the world. Jul 27, 2022 · III. SEZ Units (Special Economic Zone Units) and IFSC Units (International Financial Services Centre Units) fall under the purview of IFSCA Feb 21, 2025 · International Financial Services Centres Authority notified IFSCA (Fund Management) Regulations, 2025 to repeal IFSCA (Fund Management) Regulations, 2022. New IFSCA (Listing) Regulations, 2024 come into effect The IFSCA (Listing) Regulations, 2024 (“New Listing Regulations”) providing a unified regulatory framework for listing of securities and other permitted financial products have been notified today. FME regulations provide a comprehensive regulatory framework for Fund Managers setting up fund management entities (FME). 6 days ago · The International Financial Services Centres Authority (IFSCA) has been established to regulate and develop financial services in the International Financial Services Centres (IFSCs) located in India. May 5, 2022 · The FME Regulations mark a critical milestone in development of IFSC as global financial hub, and a globally aligned effort in the regulation of the funds industry in IFSC. The IFSCA, on 16 July 2021, notified the International Financial Services Centres Authority (Issuance and Listing of Securities) Regulations, 2021 (Regulations), superseding the Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015. Feb 20, 2025 · IFSCA updates fund management regulations, reducing compliance costs, easing investment rules, and enhancing regulatory clarity for financial entities in IFSC. Check IFSCA Directory available on the website. Jan 21, 2020 · Notifications - Reserve Bank of IndiaHome NotificationsNotifications Jun 28, 2024 · The IFSCs in India, particularly at GIFT City, provide a conducive regulatory environment for Indian and foreign banks to operate globally, offering a wide range of financial services under stringent regulatory frameworks to ensure compliance, stability, and growth in India's financial sector. Subscribe The framework for listing of debt securities proposed in the Listing Regulations is therefore aligned with the IFSC Guidelines. As contemplated under sub-regulation (1) of regulation 8 of the Regulations, the guidelines on Corporate Governance and Disclosure Requirements specified in this Circular aim to ensure accountability, transparency and sustainability for the Finance Company in order to foster investor confidence and achieve long term sustainable business goals. Admission of Securities to Dealings (a) Dealings are permitted on the Exchange in accordance with the provisions prescribed in these Bye Laws and Regulations in that behalf, in securities which are, from time to time, listed or Nov 10, 2023 · The primary objective behind the introduction of FME Regulations by IFSCA was to oversee and regulate the fund managers operating within the IFSC, rather than directly regulating the funds established within it. Nov 23, 2023 · The FAQs on the Registration of Fund Management Entities (FMEs) and Authorization of Schemes or Funds under IFSCA (Fund Management) Regulations, 2022 provide comprehensive guidance for entities seeking registration and authorization within the International Financial Services Centres Authority (IFSCA) framework. Apr 26, 2024 · Introduction On 29 January 2024, the International Financial Services Centres Authority (IFSCA) notified the International Financial Services Centres Authority (Payment Services) Regulations, 2024 (PS Regulations) with the intention of governing and regulating payment services in International Financial Services Centres (IFSC). zpzww ozyys mcwc jobv spmqd ysqkb ajxsix xcgror ndkbjvsl ngga